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  • 15 March 2012 13:29

ASX TODAY - Empired Limited secures strategic IT contract on US$34 Billion INPEX Ichthys project

PRESS RELEASE: (March 15, 2012) In an Announcement to the ASX today Empired Limited ((ASX: EPD) Managing Director, Russell Baskerville said the $5 Million contract will see Empired - a fast growing national IT Services Provider - supply, install, configure and manage the Coreworx project information and cost control system for the huge INPEX US$34 Billion Ichthys project over the next 5 years. For more information please contact: Terry Quinn PR on 0439 710 418 or Russell Baskerville Managing Director Empired Limited Ph +61 8 9223 1234 Em: russell.baskerville@empired.com Coreworx is a world leader in providing integrated project information and cost control solutions for large capital projects in the oil & gas sector. “It is a proven solution to increase project efficiency and protect against increasing costs, shrinking margins and higher performance expectations in companies such as INPEX. Coreworx services a portfolio of projects valued at over $500 billion across more than 50 countries, on more than 500 capital projects with nearly 70,000 users. “Mr. Baskerville said today. “Securing this highly competitive contract provides a significant opportunity for Empired to work closely with INPEX over the coming years providing one of the strategic applications in the build phase of the Ichthys LNG project.” “It also provides a great opportunity for Empired to demonstrate the value we can provide to INPEX and ensure we are well placed to work with INPEX on other strategic opportunities.” • “Further it provides outstanding credentials for Empired to leverage its expertise in project information and cost control systems for large capital projects in the Energy and Natural Resources sector.” Empired recently backed up a strong FY11 financial performance with an outstanding FY12 half year result. Revenue for the half year was $23.7M and EBITDA was up 173% to $1.42M. Mr Baskerville commented “We continue to be bullish on delivering a record full year result in all key financial measures.” Empired has also announced numerous contract wins plus the recent appointment of a number of key management executives and strategic business development executives. In closing Mr Baskerville said, “We look forward to the privilege of delivering high quality services to INPEX. This strategic win closes out a very successful first half period for the company and we look forward to announcing further contract success in the near term.” ASX Announcement in detail follows below:

15 March 2012

ASX Announcement

Empired Limited secures contract onUS$34 Billion INPEX Ichthys project

HIGHLIGHTS

• Strategic supplier of application services to INPEX $US34 Billion Ichthys project • Services include supply, configuration and management of Coreworx project information and cost control system • Outstanding opportunity to provide additional services to INPEX • Builds valuable credibility for future Coreworx contracts in near term

Release

Australian listed IT Services Company Empired Limited (“Empired” or “the company”) is pleased to announce that it has secured a strategic contract with INPEX as part of its US$34 Billion IchthysLNG Project.

INPEX is a worldwide oil and gas exploration and production company currently involved in more than 70 projects across 26 countries. INPEX is ranked in the top 100 global energy companies and is listed on the Tokyo Stock Exchange.

The Ichthys LNG Project is a joint venture between INPEX (76%, the Operator) and Total (24%). Gas from the Ichthys Field, in the Browse Basin approximately 200 kilometres offshore Western Australia, will undergo preliminary processing offshore to remove water and extract condensate. The gas will then be exported to onshore processing facilities in Darwin via an 889 kilometre subsea pipeline. The Ichthys LNG Project is expected to produce 8.4 million tonnes of LNG and 1.6million tonnes of LPG per annum, along with approximately 100,000 barrels of condensate per day at peak.

The $5 Million contract will see Empired supply, install, configure and manage the Coreworx project information and cost control system over the next 5 years.

Coreworx are a world leader in providing integrated project information and cost control solutions for large capital projects in the oil & gas sector. It is a proven solution to increase project efficiency and protect against increasing costs, shrinking margins and higher performance expectations in companies such as INPEX. It services a portfolio of projects valued at over $500 billion across more than 50 countries, on more than 500 capital projects with nearly 70,000 users.

Empired Managing Director, Russell Baskerville said securing this contractprovides a significant opportunity for Empired to work closely with INPEX over the coming years.

“We are very proud that INPEX have selected Empired to provide the Coreworx system as one of the strategic applications in the build phase of the Ichthys project.”

“This will provide a great opportunity for Empired to demonstrate the value we can provide to INPEX and ensure we are well placed to work with INPEX on other strategic opportunities.”

“Further it provides outstanding credentials for Empired to leverage its expertise in project information and cost control systems for large capital projects in the Energy and Natural Resources sector.”

Chris Foley, INPEX Chief Information Officer commented that he was pleased with the outcome of the tender process.

“Following a thorough market assessment and procurement process we selected Empired based on their demonstrated experience in the Natural Resources and Energy sector, the Coreworx solution offering and Empired's ability to dynamically meet our project delivery requirements.”

Empired recently backed up a strong FY11 financial performance with an outstanding FY12 half year result. Revenue for the half year was $23.7M and EBITDA was up 173% to $1.42M.

Mr Baskerville commented “We continue to be bullish on delivering a record full year result in all key financial measures.”

Empired has also announced numerous contract wins plus the appointment of a number of key management executives and strategic business development executives.

In closing Mr Baskerville said, “We look forward to the privilege of delivering high quality services to INPEX, this closes out a very successful first half period for the company and we look forward to announcing further contract success in the near term.”

For more information please contact: Russell Baskerville Managing Director Empired Limited Ph +61 8 9223 1234 Em: russell.baskerville@empired.com

About Empired Limited Empired Ltd is a national IT Services Provider with a broad range of capabilities and experience. First established in 1999, Empired is a publicly listed company (ASX: EPD) that is proud to have its foundations in Western Australia, with a strong national presence. With more than 200 staff, Empired has built a reputation for service excellence and is a leading provider of business technology solutions in the Corporate and Government sector. Our flexible service delivery approach and “can do” attitude has enabled Empired to secure clients that range from medium size entities through to large enterprise accounts with services delivered across Australia, South East Asia and beyond. Empired focuses on providing companies with tailored IT service solutions that address their specific needs. We have established long-term client relationships and are continually invited to help enhance their business processes. Empired offers a range of services complemented by hardware and software products that enable it to provide comprehensive and professional ICT solutions.

Website: www.empired.com

About Coreworx Coreworx Inc. provides integrated project information and cost control solutions for large capital projects in the oil & gas, power and mining sectors. The Coreworx solution is a proven enterprise project management software system that enables owners, engineering and construction contractors to automate best practices, mitigate business risks and improve performance to budget throughout the entire project lifecycle. Coreworx services a portfolio of projects valued at over $500 billion across more than 50 countries, on more than 500 capital projects with nearly 70,000 users. Coreworx has offices in Houston, Calgary and Kitchener.

For more information, visitwww.coreworx.com

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